Current Attempt in Progress Novak Corporation made the following purchases of investments during 2020, the first year in which Novak invested in equity securities: 1. 2. 3. On January 15, purchased 7,470 shares of Nirmala Corp.'s common shares at $27.80 per share plus commission of $1,644. On April 1, purchased 4,150 shares of Oxana Corp.'s common shares at $43 per share plus commission of $2,797. On September 10, purchased 5,810 shares of WTA Corp's preferred shares at $22.00 per share plus commission of $2,415. On May 20, 2020, Novak sold 2,490 of the Nirmala common shares at a market price of $29 per share less brokerage commissions of $2,366. The year-end fair values per share were as follows: Nirmala $25, Oxana $46, and WTA $23. The chief accountant of Novak tells you that Novak Corporation holds these investments with the intention of selling them in order to earn short-term profits from appreciation in their prices and accounts for them using the FV-NI model. Assume that Novak Corporation follows IFRS 9.